Zelira Therapeutics Limited (ASX:ZLD) signed a basic agreement to acquire Health House International Limited (ASX:HHI) for AUD 0.7 million on February 24, 2022. On April 18, 2022, Zelira signed a Scheme Implementation Deed with Health House. Under the Scheme, Zelira will issue 2,311,045 shares.

Zelira has agreed to provide a AUD 1.5 million loan facility to Health House to assist with its working capital requirements prior to implementation of the Scheme. Upon termination, Health House will pay AUD 0.1 million to Zelira. Agreement is conditional upon Zelira's completion of satisfactory due diligence on Health House and the parties entering into a formal Scheme Implementation Deed, amongst other standard conditions.

The transaction is subject to Health House's shareholders and Court approval. CPS Capital Group Pty. Ltd. acted as financial advisor to Health House International Limited.

H&P Advisory Limited acted as financial advisor while Steinepreis Paganin acted as legal advisor for Zelira.